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clinton. charles crowd hammer says president obama likes those tax rates so much let's let him live with them for everybody. >> what he will say is i wanted to do legislation to exempt the middle class, but the republicans wouldn't give me the bill. he is prepared, megyn, bluntly to sacrifice the interest of the larger whole to win a political fight. when i was working for clinton we did a deal with gingrich. there was never ever a sense that we would put politics ahead of getting a balanced budget. we got it, we won the election and this president is putting politics ahead of everything. megyn: if republicans give president obama the tax rates on the rich what do they have to negotiate with? why would they do it? >> i think president obama has the winning hand. >> he does. >> i'm not sure in the long term -- if there is a recession, either there won't be a recession or there will and the republicans will get the blame. that's and high wire act to do at this point. it's very risky from this kind of elect to take this. he could get 85% of what he wanted -- >> he's also gambling on on
with president barack obama to raise rates on the rich that extend tax cuts for income below $250,000. with congress scrambling to avert the series of tax inincreasing and spending cuts due to cut in, should approve a deal ensuring that $98% of americans do not suffer a tax increase that endangers the economic recovery. that's from the national journal this morning. this is from the hill newspaper. that's where you lose us because we want to strengthen these programs, not let them die on the vine. again, that's from "the hill" newspaper. dixie is a republican in clinton, mississippi. what do you think? caller: good morning and thank you for taking my call. i think it is a surprise to me, and i cannot help but wonder why all the talk about increasing taxes, making cuts, and we need cuts, why the welfare is never addressed. we have people who are living like millionaires from welfare. they get free food, they get free housing, they get free schooling, they get -- the children get lunches two times a day at school. and they get all kind of benefits, but nothing is ever said about cut
in a news conference last month obama suggested he might let the top rate rise to levels somewhat lower than a 39.6%. that's the washington post this morning. below that, governors say the fiscal cliff would hurt their states' economies. several governors met at the white house yesterday and with political leaders to say something needs to be done or their economies and on the state level will be heard. -- be hurt. let's go to walter in new jersey, independent caller. good morning. caller: good morning. i don't know what's wrong with these people, because they have to come to some kind of agreement. the gop has to give ground, taxes wouldybody's go up just to save 2%. it just does not cut it. it is a bad move politically and bad for the country. host: polloi in johnsonville, virginia. -- floyd. caller: i was thinking about the fiscal cliff. i don't think that's the problem at. the problem is when we fell off the moral cliff. our president said gay marriage was ok. and america killing so many babies. side,e get back on god's everything else will take care of itself. that's the way it is. a gu
. >>> president obama's expected to travel to detroit on monday to push his proposal for raising tax rates on the wealthiest americans. the trip is part of his effort to get republicans to drop their opposition to increasing rates on the top 2%. meanwhile, house speaker john boehner challenged the president today to come up with a plan that can pass both houses of congress. >>> a new york man accused of shoving a stranger in front of a subway train is now charged with murder. the case has horrified people all over the world. >> the man who snapped a photo of the victim seconds before he was killed is defending himself. nbc's chris clackum explains why the photographer says he couldn't help the victim. >> reporter: the man new york city police took into custody tuesday made his first court appearance wednesday. 30-year-old davis is charged with second-degree murder. and he's believed to be the man on the right arguing with another man before pushing him into the path of an oncoming subway train monday. >> it was horrifying. it was terrible. >> reporter: but there's also outrage over the "ne
.5% or so top rate that president obama wants to return to which we paid under clinton is very, very popular. republicans should ought not fall on that sword. the democrats are ed e ready to endorse 98% of the hated bush tax cuts. i would call that a win and toss the other 2% overboard. >> there's also a lot of talk here in washington, has been for a couple weeks about false confidence. the false confidence that happened at the end of the election there. the mitt romney people pretty much told a lot of us they were confident it was going to be a long night and that they would win. i want to read you something from the new republic about team romney's internal polling. says the biggest flaw in their polling was the failure to predict the demographic composition of the electorate. the people who showed up to vote on november 6 were younger and less white than team romney anticipated and far more democratic as a result. so i want to ask you, erick, is this sort of a misunderstanding generally that republicans have to address the next time they go into an election about who the voters are going
't want tax rates on upper income folks to go up. >> reporter: speaking at a factory, mr. obama argued that if congress can't get a deal, taxes will rise about $2,000 average for a family. of coal you get for christmas, that is a scrooje christmas. >> let's not kid ourselves. >> reporter: house speaker john boehner balked. >> increasing tax rates draws money away from the economy that needs to be invested in the economy to put people back to work. it is the wrong approach. >> reporter: bolder by his re-election, and criticized for being soft on republicans in the past, he drew a hard line, including $1.6 trillion in revenues, $600 billion in additional spending cuts, about half in medicare, and at least $50 billion infrastructure spending. >> we don't want to increase tax rates, we're not going to increase tax rates. and we want to do something about the spending problem. >> reporter: aides say senate minority leader mcconnell laughed after tim geithner showed him the offer thursday. today, confl republican goals remain the same, they say, serious entitlement reform, including higher p
to cut spending and, i believe, it's super flowous. >> and that is a law, higher rates to go up for the 2072%, including all of you. yes. >> reporter: president obama was speaking to business leaders when he made the comment. he insists he will veto any bill not including tax increases on wealthier americans. >>> the defense department started planning for the roughly $500 billion in personnel cuts. the pin is not talking to the defense contractors of public plans. >>> the council made it clear that it's not following the mayor's lead on several issues. it was evident last night during a 13-hour meeting. the council voted against several bills. matt has more. >> reporter: the mayor appears to be concerned about the budget when it comes to a number of bills passed by the council yesterday and one thing that could put a hole is the plan by the council to lower speed camera fines. it passed last night and even though the mayor said the cameras are about safety, not mean, they generate a lot -- not money, they generate a lot of revenue and they could be close to $100 million the nex
the sequestration hanging over our heads. >> they constantly create a situation, try to blame obama. >> bill: kevin, do you think we dare say look, hold the line and if you don't raise rates on the top 2%, we're not going to make a deal? >> absolutely. hold the line. i'll gladly pay more taxes than to have some rich son of a bitch pay more. >> bill: you and me both. that's all right. i'm willing to do it. i am a patriotic millionaire. i ought to -- i should join the club. thanks, kevin for the call. >> announcer: this is the "bill press show." which was just as you say -- maybe it was starve the beast. i'll look it up during the break. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of
and i believe it's appropriate to put revenues on the table. >> let's allow higher rates to go up for the top 2%. that includes all of you, yes? >> president obama speaking to business leaders when he made that comment today at the white house. insists he will veto any bill that does not include tax increases on wealthier americans. >>> coming up an online shopping horror story, a maryland woman's story may convince you to read the fine print. >> last night we were around 60 degrees most places at this hour. tonight we're some 20 degrees colder than that. i'll let you know how low it gets overnight and if we'll see more warm air on the horizon, but get ready for a chilly overnight. the rest of the forecast is coming up on the news edge at 11:00. >> this is fox 5 news edge at 11:00.  you won't take my l life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 ye
to the country's credit rating in the new year. each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limit. president obama talked to business leaders today. >> the only thing that the debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may re newsto raise the country's debt ceiling to get their way on spending cuts and risk defaulting on the country's loans. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's the president, not the emperorer. >> reporter: fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes, not by raising rates on the rich as the president has insisted. >> we're not insisting rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes, and expecting the problem to go away. >> reporter: house
? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with james clyburn, representative clyburn last hour, about the notion of raising tax rates on the wealthy and not where the president wants them. he said i want it higher. take a listen and then talk about it. >> we know where the president is. and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000. some say even a million. all of that's going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he'll do that but the president stands at 250. which is below even where i was but he won the election. >> do you think that's where the compromise is, have it at a higher rate, somewhere in there? >> i think what needs to happen is for the democrats to come forward with ideas for expenditures. because if not, what he's asking for is for speaker
holding the pen when he wrote, "i will not raise rates" in that letter he sent to president obama. but the problem is, we can agree or disagree with the president's position. i honestly take the president at his word. i do not believe there will be a deal here without some increase in tax rates for the top 2%. it doesn't have to be all of it, but some of it. i think the president has changed his tune a bit from the way he's handled some of these other negotiations. and take everything you say and turn it around. boehner and the republicans have to be aware of where obama's at in his own head and with his colleagues, which is no deal without some increase in rates, or we go over the cliff. >> let me just add one thing. when obama made that initial offer, we talked a little bit about how, you know, it was a wish list. it was ideological, whatever you want to say. i think it actually helped boehner in some respects because it gave him three or four things that he could then go back to his caucus and say, look, i moved obama off of this, this and this. and when boehner put his offer o
worth having, but as a rule, the lower the rate, the better for investment, the better for job growth. in terms of medicare and medicaid, you will see for upper-income under obama-care, that has been done. if you make over $250,000, if you will pay a tax. -- you will pay a tax to fund that thing. the democrats and an enormously new program that has $600 billion of taxes over a decade that are beginning to kick in. if you go to a tanning salon, if you buy a wheelchair, there will be taxes, and if you are a high- income investor, you will already hit with taxes. host: are those of included and budget proposals? guest: we think some of these things should be open for negotiation, but we lost the election, so the president will not do a full repeal. having said that, there are areas we have worked on before, trying to get rid of 1099 forms, and democrats said that was a dumb idea, and the president signed that repeal. we will continue to work, but this thing is a backer fiscally for the country or the next decade and that will become progressively more evident. host: linda. your honor wit
for the first time in days -- president obama and house speaker john boehner. it is raising new hopes for new negotiation -- they have been at a standstill since monday when the gop proposed raising revenues by closing tax loopholes, not by raising tax rates on the top earners as the president had demanded. this comes as a new poll suggests americans agree with the president. 40% want to that tax cuts expire for the wealthy. 32 percent say they should continue for everyone. more downsizing -- news from citigroup. they announce they are cutting 11,000 jobs worldwide. they're closing branches. a spokesperson says less than 1% of 3600 citibank employees in maryland will be laid off. one branch in the state will close in the glen burnie. a new annapolis fire department is getting over $200,000 in a grant from fino. congressmen -- fema. congressman judge sought -- john sarbanes said it will go to upgrading the fire station. some say fema is not that generous when it comes to aid for victims of superstore sandy. >> maryland woke up to this headline -- u.s. denies aid to more storm victims. this is
and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mcconnell, aides on both sides said mcconnell burst out in laughing. house republicans offered a somber assessment. >> this is not a game. >> it was not a serious proposal. and right now, we're almost nowhere. >> reporter: lester, there is the inside game in washington and the outside game of public pressure that the president is trying to apply. he continues both of those this week. he meets with governors at the white house and more business ceos trying to get congress to move the votes in the house of representatives and get something done before january 1st. lester. >> mike, thanks so much. >>> still to come, charges dismissed against the u.s. open tennis ref who is accused of killing her husband. why the court decided to drop the case. >>> and discoun
days until christmas, president obama warned lawmakers today not to add to the holiday pressures americans already feel, by letting the political stalemate drag on. but he also again insisted there would be no deal unless tax rates went up on the wealthy. >> the closer it gets to the brink, the more stressed we're going to be. >> woodruff: president obama made the short trip to northern virginia today to underline his plan to avert the fiscal cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first direct talk in almost a week. but today white house spokesman jay car
geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple lost $35 billion in market value yesterday. to put that into perspective, there are 417 companies listed on the s&p 500 index that have a market cap below $35 billion, so the jimmer fredet the majority of the s&p is valued at just below what apple lost yesterday. >>> a fairfax county woman will have to remove parts of her negative online review of a home contractor. the ruling was made yesterday. jane perez complained about repairs at her townhouse on yelp and angie's list. she claimed that her jewelry disappea
. stuart: well, wait a minute you cannot rewrite economic history. after george bush lowered tax rates the return to the treasury, the money coming into the treasury went way up and the deficit, by the way, in 2007 was 167 billion dollars. >> so. stuart: president obama has got, 167 billion a month just about. don't rewrite economic history, julie. >> i'm not rewriting economic history. stuart: you are. >> i'm not-- >> i'm telling you if you lower tax rates you'll get more revenue. >> that's how do you it. >> i think history showed whether it's ronald reagan or-- >> ronald reagan, george w. bush and-- >> your a telling me that ronald reagan was not increasing deficits. stuart: ronald reagan increased-- >> here is what we're arguing about, you lower tax rates, you get more revenue. >> stuart. stuart: that's a lesson of economic history. >> stuart, i'm sorry. stuart: it is. >> the lesson of the reagan years and bush years, you-- >> it's factually true that when you lower rates, ronald reagan did it, dramatic lower of rates, the revenue to the treasury doubled in five years. that's true.
rate hikes on the table, the two sides could find compromise. in washington, danielle nottingham, wjz eyewitness news. >>> president obama also told business leaders he will not play games with the fashion's debt ceiling. >>> a string of unseasonably mild days continues right now. a live look outside. and not too bad of a day. but not nearly as warm as the last few days we've seen. bob is in the first warning weather center with the updated forecast. bob? >> if you were asleep all day today, awake yesterday. and going out tonight. big change. because temperatures have been dropping. down to 49. now, it's down to freezing. 32 in oakland. that's coming our way. 48, ocean city. and we are running 11 degrees colder right now than we were yesterday at this time. in oakland, 22 degrees colder, as you see, out to the west. white a bit colder. and tomorrow will be a sunny, dry day. but it will be chilly. temperatures only in the 40s. probably only mid-40s tomorrow afternoon. it will be colder next day or so. but even milder air coming back for th
finds himself defending his own plans for members of his own party. in northwest d.c., president obama is on the hard sell trying to convince a group of business executives to support raising taxes on the wealthy. >> let's allow higher rates to go up the top 2%, and that includes all of you, yes? >> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i
to the fiscal cliff, but feel very strongly we've got to get serious here. we don't want to increase tax rates. we're not going to increase tax rates. >> warner: a white house spokesman shot back that republicans ought not to be surprised that mr. obama is sticking to his guns. and congressional democrats, like house minority leader nancy pelosi, welcomed the president's plan. >> elections have consequences. the president campaigned-- he made it very clear, he made it very clear that he was supporting a tax cut for the middle class, that he wanted the expiration of the tax cuts for the high end. and the american people know that debate, they voted for him. >> warner: still, despite all the tough talk, reporter todd zwillich of wnyc and public radio international says there's more movement behind the scenes than meets the eye. >> there does tend to be a pattern to how big negotiations like this go. the fact that they haven't reached an agreement yet doesn't mean they won't before christmas, doesn't mean they won't before new years. there is a value in doing some public posturing and trying to g
to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue, about half coming from higher rates for the wealthy. 600 billion in cuts to domestic programs like medicare. and 50 billion in new infrastructure spending. when treasury secretary tim geithner went to the capitol and laid out the plan for a senate republican leading mitch mcconnell, aides on both sides said mcconnell burst out in laughter. with talks now entering the final month, house republicans offer add more somber assessment. >> we're not interested in playing rope a dope. >> it was not a serious proposal. and so right now we're almost nowhere. >> reporter: so alex the clock is ticking. the president's public campaign trying to pressure john boehner, eric cantor and their charges in their house republican conference continues. he meets with governors this week here at the white house to talk about this time and more meetings with ceos, this is in the form of the bus
. president obama had a specific proposal to raise the rates to the clinton-era rates on the top 2%. there was a majority of republicans on exit polls who agreed with that. second, on the $1.1 trillion in entitlement cuts, that's really a bad idea. because what he's doing that is approaching by slashing benefits rather than reforming the system. i'll give you an example. we have to save money in health care not just in medicare but health care but we pay more, more than most countries, and we get less. here's an example of a reform. right now in medicare, when we buy prescription drugs, we buy wholesale but we pay retail and the law requires us to pay retail. whereas in the v.a., in medicaid, we do price discounts when we're purchasing. if we did that in medicare that would save us $160 billion a year. so what i'd like to see is us save money on health care. we need to do that. but it's got to be through system reform. host: can you save enough money through system reform without looking at benefits? guest: you know, you got to start there, because you really don't want to be sayin
melissa: rally mode. i am melissa francis. lori: i am lori rothman. president obama telling business leaders he is cheering for their success. tax hikes for the wealthy saying there will be no deal without tax rate increases. melissa: 11,000 now out of work at citi. slashing jobs taking a billion dollars charge as it repositioned oppositions. charlie gasparino tells us it is even more cuts are on the way. lori: new warnings and ethanol blended gasoline. joining us on whether you should be worried about what you put into your gas tank. let's get up to speed, back the floor of the new york stock exchange and nicole petallides. economic data on the service industry. nicole: looking good, lori and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure
middle income tax cut to the floor. >> reporter: later on today president obama will say that any deal reached in congress must include increased tax rates on the wealthiest americans. he will say that at a factory in hatfield, pennsylvania, where the company connects, makes tinker toys. that is company the white house picked for today's event because they rely on the middle class consumers who would be affected if we go off the fiscal cliff. martha. martha: that will be a major sticking point it sounds like. peter, thank you very much. bill: so what happens if your taxes or to your taxes if lawmakers don't strike a deal? the tax policy center says that 90% of the americans would see a tax hike next year in 2013. it says 121 million americans will be paying more in payroll taxes, and families making between 40 and $65,000 a year, will pay an extra $2,000 to the government. that starts in 2013. martha: some say that they're concerned that what happens in europe could also happen here down the road. look at europe's economy down the road. 11.7% unemployment. that is another record high i
:00 eastern here on c-span. and following that, today's events op the fiscal cliff with president obama and house speaker john boehner. the president said in remarks to the business round table today that he was aware of reports that republicans may be willing to agree to higher tax rates on the wealthy as a way to avert the looming fiscal cliff and then come back next year with more leverage to extract spending cuts from the white house in exchange for raising the government's borrowing limit. we'll also have house speaker john boehner's news conference today where he said it's time for the white house to respond to monday's republican proposal for avoiding the fiscal cliff. see the president and speaker boehner tonight at 9:00 eastern. elsewhere on the hill today the senate appropriations committee on homeland security held a hearing on fema's response to hurricane sandy. senators from new york, rhode island, connecticut and delaware testified before the committee on the challenges their constituents face in the aftermath of the storm and what's needed to move forward. >> good morning
to get. the economy slows down. unemployment tends to go up. president obama in this latest so-called fiscal deal he is proposing much higher tax rates no spending cuts, and unlimited borrowing. i would suggest we might get the same thing here. a slower economy more unemployment. >> gretchen: moral of the story from stuart varney. we'll catch you later on today. thanks. the price of pizza and groceries going up. why you can thank obamacare for that? then they're the newest crop of zoo borns. the most exotic animals in the world are live in our studio. first on this day in 1965 "turn, turn, turn" by the birds was the number one song. i don't remember it. do you stu? n yes [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over and over again. ♪ ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. >> gretchen: answer to the aflac question of the day alicia cusper. >> bri
court of maryland. senator cardin and i recommended judge grimm to president obama with the utmost confidence in his abilities, talent, and competence for the job. and the a.b.a. agreed with us and gave him the highest rating of unanimously qualified. i'd like to thank senators reid and mcconnell for breaking the logjam so that we could bring this to everyone's attention and commend senator leahy for the swift movement through the committee process. i take the -- i've had the opportunity to recommend several judicial nominees, and take my advise and consent responsibility very seriously. i have four criteria. my nominee must have absolute integrity, judicial competence and temperament, a commitment to core constitutional principles, and i ask for a civic engagement in maryland so they're familiar with the lief and -- life and times of the people they will adjudicate over. i mentioned these standards because often i -- i mention these standards often because i mean it. judge grimm does exactly that. he brings the right hard-working values to the bench and the necessary experience, s
split or the fiscal cliff because president obama's plan to avoid the fiscal cliff is not exactly flying with republicans. 32 days now count with me 32 tax rates soar, spending cuts automatically kick in and keep in mind there is a date that we're watching also before this, congress break for the holidays in all of 14 days. >> so to review the president's plan calls for $1.6 trillion in tax hikes, $50 billion in new stimulus spending, and $400 billion in unspecified cuts. the president for himself he's heading to a manufacturing plant in pennsylvania today to try to sell that idea. house speaker john boehner's reaction was essentially, get serious. so we want to talk about the numbers behind this. we're going to bring in ken rogoff, professor of economics and public policy at harvard university. you heard the specifics of the plan, $1.6 trillion in new taxes, $400 billion in unspecified cuts, $50 billion in new stimulus. how does this sound to you? >> well, it certainly sounds like a plan. and i do think we have to see some mix of higher revenues starting now and frankly going on into th
. spending cuts. >> the white house drew its own line in the sand and said tax rates must go up on the top earners, but -- >> the middle-class tax cut should be made permanent. >> president obama stayed out of the fiscal cliff discussions and sat down for lunch with former rival mitt romney. >> i am sure they will or have already compared experiences on the campaign trail. >> today president obama hits the road to push for his plan to avoid the fiscal cliff. but republicans have slammed him for campaign-style politics that they say just won't get the job done. rob and sunny, back to you. >> can you really imagine that they're not going to reach some sort of deal to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provis
as the obama taxing the rich you notice how he didn't touch entitlements. i imagine most of his rates are going to get off on tax breaks so there's only going to be certain rich that are, you know, taxed. host: dan in maryland. from the hill this morning. host: now, 40-something republican senators sent a letter to the president yesterday. it says, dear mr. president -- host: again, this is 40-something republican senators yesterday. become to your calls on the future of hillary rodham clinton. this is lucy in ohio. hi, lucy. caller: hi there. how are you doning? host: just fine. caller: i think if we get through the next four years, hillary clenton would make a god candidate and good president for our country. i think she would move the country and she knows a lot about foreign afares, has been secretary of state, i think she'd be a good candidate. host: all right, thanks for calling in. where is troy ohio. caller: is there -- caller: there is up with question i want to ask, and i wish someone could answer it. what happened to that money they found when they went to iraq. cowl you please get m
it more economically viable, he just wants to raise rates and punish folks more. let me go, mr. speaker, to president barack obama, august, 2009. he says this in an interview. the last thing you want to do is to raise taxes in the middle of a recession. because that would just take more demand out of the economy and put businesses in a further hole. president barack obama, august, 2009. he was absolutely right then. those facts hold true today. it's not just those facts hold true over a small period of time, mr. speaker. those facts hold true over a decade. john kennedy's quotes, president john f. kennedy, i just want to take you back, mr. speaker, it's not as if these are new ideas we are talking about. this isn't some rocket science problem that's suddenly been thrust upon the united states of america in 2012. these are basic economics. adam smith talked about these years ago. this is in one of john f. kennedy's news conference in 1962 as he was providing the largest tax cut in modern american history he said this, he said it's a paradoxical truth that tax rates are too high and tax r
the rate the better for investment in the better for job growth. in terms of medicare and medicaid, you'll see for upper income under obama carries authority been done. if you're going to make two and $50,000 here gopi attacks that flows into fun that thing. democrats added in the first two years an enormously new program. it's by the lake had a chilling dollars of taxes of its own, 600 alien over a decade and they're beginning to kick in now. your tanning salon has an extra 10%. the wheelchair will have a device check. if your high income investor, you already going to get hit with taxes to fund the president's health care proposal. >> host: at this included on budget proposals put out? >> guest: i think they are. we think something said to be open for negotiation or review. it's not going to do a full repeal. there have been areas where work done before. both sides came together. a republican plan to give it a 1099 forms to kill small businesses. i was a idea. this thing is it that break or fiscally for the country over the next decade and i will become progressively more apparent. >>
and capital income. under the president's preferred tax policy, the top rate would go from 35% to 49.9% for ordinary income -- and for ordinary income from 15% to 25%. the long-term consequences of president obama's tax policies would have a profound and negative affect. capital stock would be dollar -- would fall. fewer jobs and lower wages resulting in higher taxes would harm the middle class. data reveals three important facts of high income earners. the taxes on the wealthy raise as much faster than on everyone else during economic booms, but they also fall much faster during economic bust. people bit more income when tax rates are low and not when they are -- report more income when tax rates are low and not when they are high. there are better ways to increase federal revenues than hiking tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth
and in his first post-election interview president obama again rejected the house republican counteroffer that is on the table. >> unfortunately the speaker's proposal right now is still out of balance. we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> let's hope he sticks to it. >> g.o.p. leaders aren't only dealing with the president and congressional democrats they're dealing with a split within their own ranks. more conservative republicans don't want party leaders to compromise anymore than they think they already have. even though the republican plan offers up $800 billion in new taxes without upping tax rates at all tea party leaders say higher taxes shouldn't be in any form because it is not what republicans stand for. south carolina senator jim demint went so far as to call on supporters of his senate conservative fund to call senate republicans and ask them to oppose what he's calling the boehner tax hike. the looming question for re
obama continues focusing on the year-end deadline for avoiding tax increases and spending cuts. he is visiting in northern virginia family to highlight his call for expanding current tax rates to all but the top 2% of earners. the president spoke with john boehner yesterday, signaling the possible start of fresh talks to avoid these so-called fiscal cliff. these are some of the latest headlines on c-span radio. "washington journal" continues. host: phone numbers are up on the screen. we're going to go through the papers. no congress today. they're up for the weekend. they're scheduled adjournment date is december 14. everyone has an opinion and a fun little betting game, when will they adjourn, what will they do before they adjourn, what is going to happen? i'm going to go through a couple of papers before we get to your calls. this is the lead story in the "l.a. times" class morning. port strike part of a bigger fight. the eight-day strike that crippled one of the world's busiest ports reflected a clash that is playing out across the global shipping industry as ports and their uni
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